The following data are for the Portet Corporation, which sells just one product: Units Unit Cost Beginning

The following data are for the Portet Corporation, which sells just one product:

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Units Unit Cost Beginning Inventory, January 1 1,200 $9 Purchases: February 11 1,500 $10 May 18 1,400 11 October 23 1,100 13 Sales: March 1 1,400 July 1 1,400 October 29 1,000 Calculate the value of ding inventory and cost of goods sold at year-end using the periodic method and (a) first-in, first-out, (b) last-in, first-out, and (c) weighted-average cost method. Hint: For weighted-average cost, round the cost per unit to 3 decimal places and round your final answers to the nearest dollar. a. First-in, First-out: Ending Inventory $ Cost of goods sold $ b. Last-in, first-out: Ending Inventory $ Cost of goods sold $ c. Weighted Average Ending Inventory $ Cost of goods sold $ Units Unit Cost Beginning Inventory, January 1 1,200 $9 Purchases: February 11 1,500 $10 May 18 1,400 11 October 23 1,100 13 Sales: March 1 1,400 July 1 1,400 October 29 1,000 Calculate the value of ding inventory and cost of goods sold at year-end using the periodic method and (a) first-in, first-out, (b) last-in, first-out, and (c) weighted-average cost method. Hint: For weighted-average cost, round the cost per unit to 3 decimal places and round your final answers to the nearest dollar. a. First-in, First-out: Ending Inventory $ Cost of goods sold $ b. Last-in, first-out: Ending Inventory $ Cost of goods sold $ c. Weighted Average Ending Inventory $ Cost of goods sold $

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Cost of Goods Available for Sale Cost of Goods Cost of Goods Sold Ending Inventory FIFO Cost per Cos... View the full answer